Closing Bell: ASX wipes out the week's gains as the bond market rumbles

After a positive Monday to Thursday, the ASX wiped out gains made across the week, losing more than 1% today

The ASX followed a plunge on Wall Street with the ASX 200 closing at 7,324, which was 1.44% lower than yesterday’s close.

While Wall Street was led by tech (after disappointing results from some of the biggest tech firms) it was a very broad sell off down under with all but 3 sectors losing more than 1% and only healthcare in the green – by 0.13%.

Property trusts came out the worst retreating 2.611% while the “best” sector was healthcare which only retreated 0.1%.

All eyes are on the bond market, after the RBA stayed out of the market at the end of this week in connection with its yield curve control (YCC) program on three-year government bonds.

Markets took that as a signal that YCC is coming to an end, and Australian bond yields moves sharply higher across the curve in Friday afternoon trade.

TODAY’S BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
S2R	S2 Resources	0.17	102	25377338
YPB	YPB Group Ltd	0.003	50	5114159
UUL	Ultima Utd Ltd	0.72	38	120240
IGN	Ignite Ltd	0.13	35	210293
ACB	A-Cap Energy Ltd	0.145	32	8638197
HT1	Ht&E Limited	1.93	31	1903720
AEV	Avenira Limited	0.024	26	130551462
VIC	Victory Mines Ltd	0.0025	25	3821748
XTC	Xantippe Res Ltd	0.005	25	59312894
CY5	Cygnus Gold Limited	0.165	22	320201
RAN	Range International	0.014	22	49378848
CNR	Cannon Resources	0.59	19	1355603
HVY	Heavymineralslimited	0.24	17	1047208
LMG	Latrobe Magnesium	0.063	17	44017482
FHS	Freehill Mining Ltd.	0.029	16	980489
LBT	LBT Innovations	0.115	15	1896729
PLY	Playside Studios	0.78	15	753960
TTA	TTA Holdings Ltd	0.055	15	1446595
AFW	Applyflow Limited	0.008	14	54869256
MTH	Mithril Resources	0.016	14	2613125
TYX	Tyranna Res Ltd	0.008	14	3044200
AKM	Aspire Mining Ltd	0.095	13	33292
PVL	Powerhouse Ven Ltd	0.13	13	100067

A later riser in afternoon trade was S2 Resources (ASX:S2R). It more than doubled after revealing it was successful in its bid for a block in the North central Victorian goldfields which were put out to tender.

The company’s block has an an area of 394 square kilometres and surrounds the Forestville gold mine which is operated by Kirkland (ASX:KLA).

Elsewhere, radio and podcast network HT&E (ASX:HT1) settled a tax dispute with the ATO.

Companies climbing off the back of quarterlies included TTA Holdings (ASX:TTA), Applyflow (ASX:AFW) and Powerhouse Ventures (ASX:PVL).

TODAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
WOO	Wooboard Tech Ltd	0.001	-50	20089738
MMM	Marley Spoon	1.025	-32	8494204
FNX	Finexia Financialgrp	0.07	-23	21428
OEX	Oilex Ltd	0.004	-20	1109000
CZL	Cons Zinc Ltd	0.039	-17	11122504
ANL	Amani Gold Ltd	0.0025	-17	42692550
VUL	Vulcan Energy	12.51	-17	8768826
IVX	Invion Ltd	0.026	-16	98786099
BTR	Brightstar Resources	0.047	-16	1934555
MSG	Mcs Services Limited	0.058	-15	1266330
GWR	GWR Group Ltd	0.12	-14	1433123
PIL	Peppermint Inv Ltd	0.019	-14	25622631
BMM	Balkanminingandmin	0.57	-14	476169
SKY	SKY Metals Ltd	0.085	-13	645921
CZR	CZR Resources Ltd	0.007	-13	1231306
OAU	Ora Gold Limited	0.014	-13	945585
PRM	Prominence Energy	0.007	-13	9884323
BTC	BTC Health Ltd	0.077	-13	295144
CHZ	Chesser Resources	0.14	-13	1829617
ENV	Enova Mining Limited	0.021	-13	357347

Marley Spoon (ASX:MMM) fell after its quarterly

Vulcan (ASX:VUL) dropped on the first trading day since it was attacked by short seller J Capital.

ANNOUNCEMENTS YOU MAY HAVE MISSED

LBT Innovations (ASX:LBT) won FDA clearance for its culture plate (lab container) reading technology – the MRSA analysis module. This enables it to be sold commercially in the United States

Crown Resorts (ASX:CWN) capped off a horror week by settling a class action against it – relating to the 2016 imprisonment of employees on China for procuring gamblers – for a total of $125 million including interest and costs. The company said the settlement was a decision made in the best interest of shareholders.

Just over a week since NAB (ASX:NAB) announced ASX tech figurehead James Spenceley would join the board, it told shareholders it now wouldn’t be proceeding. The company said Spenceley “reconsidered his overall commitments after feedback received from proxy advisors, as well as a number of NAB investors”.

Transurban (ASX:TCL) reached financial close on its deal to buy the NSW government’s stake in WestConnex. The deal cost over $11.1 million, partially funded with a new capital raising last month.

Telco stock Field Solutions (ASX:FSG), expanded into Tasmania by snapping up local telco TasmaNet. It will pay approximately $13 million for the telco, which has government and enterprise clients across the Apple Isle.